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jbutterfield19 · Joined: 17 Aug 2009 Posts: 1 1.29 Dollars($)

I owe 89000 on a home worth about 110,000. The home is in Tennessee. I had to relocate to Utah, and rent this home out. Could I get a second mortgage to consolidate some bills? How much could I get?...Owe 89,000.
Home worth about 110,000.

Jimmymackin · Joined: 17 Aug 2009 Posts: 66 0.65 Dollars($)

The simple answer is no. It far exceeds today's underwriting tolerances for cash-out refinances.

I would compare personal loans to see if that is a good fit

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

jbutterfield19

Welcoem to the forum

You need to have some equity in the house for you to take a equity loan

As of now it does not look like you will be able to get that secodn loan

Good luck and feel free to ask

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